Industry Outlook and Trend Analysis
The Distributed Energy Generation market was worth USD 126.67 billion in 2014 and is expected to reach approximately USD 439.37 billion by 2023 at a CAGR of 14.82%. In comparison with the conventional systems, DEG systems are more cost-effective, safe and eco-friendly. The DEG market is driven by escalating energy demands of consumers due to technological innovations. Additionally, the urge to restrain the increasing global warming and greenhouse gas emissions are further advancing the market development. The DEG systems are decentralized, modular and flexible. Since these stations are located close to the load they serve, the cost of energy transmission can be reduced contrasting to the conventional power stations.
Type Outlook and Trend Analysis
Based on type, the DEG Market is fragmented as Combined Heat Power CHP , Fuel cells, Hybrid Power Stations, Micro CHP, Micro turbines, Photovoltaic PV cells, reciprocating engines, small wind power plants, Micro turbines, Sterling engines or a combination of any of the above. Amongst these CHP and PV technology are major contributors to the DEG market segment followed by wind power, Micro turbines and fuel cells. With expanding interest for clean energy, the renewable resources section is foreseen to rule the DEG market in coming years.
Application Outlook and Trend Analysis
The Distributed Energy Generation Market is categorized into On-Grid and Off-Grid on the basis of application. The On-Grid application has no storage while the Off-Grid type can store and supply electricity on demand. The On-Grid type holds a major share and has dominated the DEG market. The Off-grid systems are foreseen to have a substantial growth during forecast period due to its ability to provide electricity to remote rural areas.
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Regional Outlook and Trend Analysis
Owing to abundant investments made by manufacturers and government schemes for reducing carbon emissions, Europe has dominated the DEG market and is expected to hold a high demand in coming years. Due to increasing demand and lack of electricity in rural areas of developing countries in its region, Asia-Pacific will observe a substantial growth during the forecast period. North America is predicted to hold third biggest share due to increasing demand for power supply from its industrial section.
Competitive Insights
The leading players in market are E.ON SE, Capstone Turbine Corporation, Ballard Power Systems, General Electric GE , Vestas Wind Systems A/S, SIEMENS AG, Bloom Energy and Caterpillar Power Plants. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Distributed Energy Generation Market is segmented as follows-
By Type:
Combined Heat Power CHP
Fuel cells
Hybrid Power Stations
Micro CHP
Micro turbines
Photovoltaic PV cells
Reciprocating engines
Small wind power plants
Micro turbines
Sterling engines
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By Application:
On-Grid
Off-Grid
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
South Africa
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
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Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Customization of this Report can be done as per client’s requirement.
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